Agri Business

Cardamom prices likely to be steady

V Sajeev Kumar Kochi | Updated on November 07, 2019 Published on November 07, 2019

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A bullish sentiment likely to prevail in the cardamom auction market on Thursday as arrivals for the two trading sessions was limited.

According to traders, the prices are likely to be positive as plantations in the regions are witnessing bright sunny days in the last one week. This will again instigate a speculative trend in the market. For cardamom auctions, a higher quantity on offer will always ensure good participation of traders. 

The quantity on offer in the morning auctions conducted by Cardamom Processors Association, Santhanpara at Spices Park in Puttady was 15 tonnes. In the afternoon, the quantity on arrival was 39 tonnes and the auctioneers was CPMCS, Thekkady. 

The market in the previous day was strong and steady with active participation from Kerala buyers due to larger quantity on offer.

Trade analysts Acumen Capital Markets pointed out that November futures price is showing some recovery. On Wednesday, it reported a price rise  by Rs53.10 to Rs2700 per kg.

Pepper market to rule steady

As many as 15 tonnes of pepper has arrived for sale at Kochi trade on Thursday and so far transactions have not been commenced.

According to traders, sellers are quoting Rs315 and Rs 320 per kg, while buyers are at Rs 300, Rs 305 and Rs 310 depending on quality and grade.

The market ruled steady steady on Wednesday, realising an average price of Rs 305 per kg for ungarbled varieties on an arrival of 20 tonnes.

Pepper November futures is showing some recovery on the daily chart.

Published on November 07, 2019
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